(Dec 2): Singapore plans to bar former Goldman Sachs Group Inc banker Tim Leissner from its securities industry for 10 years and fined Standard Chartered Plc and Coutts & Co over breaches related to a scandal-plagued Malaysian sovereign fund. Leissner, who left Goldman Sachs in February, was sanctioned because he issued an unauthorized reference letter on behalf of Low Taek Jho, the Monetary Authority of Singapore said in a statement on Friday. The banker moved to Hong Kong in November 2011, but maintained his representative status in Singapore until his resignation from Goldman Sachs in February, according to the MAS. We continue to cooperate with the MAS.”Leissner left Goldman Sachs after 18 years with the bank and relocated to Los Angeles earlier this year. Criminal ChargesLow’s Hong Kong-based company Jynwel Capital didn’t respond immediately to an e-mail request for comment on the Singapore central bank statement.

Source: The Edge Markets December 02, 2016 10:32 UTC